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Economic news

Bessent: Carbon tariffs could be part of an overall tariff program

01/16/2025

Less than a minute

2025.01.16 12:47

WASHINGTON (Reuters) – President-elect Donald Trump’s pick for U.S. Treasury Secretary, Scott Bessent, told U.S. senators on Thursday he is interested in potentially enacting tariffs on carbon emissions.

© Reuters. Scott Bessent, U.S. President-elect Donald Trump's nominee to be secretary of treasury, looks on as he sits near his son Cole, on the day he testifies during a Senate Committee on Finance confirmation hearing on Capitol Hill in Washington, U.S., January 16, 2025. REUTERS/Kevin Lamarque

“It’s a very interesting idea that could be part of an entire tariff program,” Bessent told the Senate Finance Commmittee, “President Trump hasn’t taken office yet but if confirmed, I look forward to working with them on various strategies, some that could be specifically aimed for carbon.”

Bessent said other tariffs could be aimed at other trade practices.

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01/16/2025

Less than a minute